Over-45s keep boosting economy: report

OLDER Australians are adding up to $65 billion to the nation's economy each year, a new report commissioned by a seniors consumer lobby has found.

The report for National Seniors measured the overall economic contribution of Australians aged 45 or older.

Including contributions not normally measured, like grandparenting, caring and volunteering, the Swinburne University research found older Australians added about 4.2% to the nation's gross domestic product.

National Seniors chief executive Michael O'Neill said the findings confirmed the role of older Australians as a "highly productive, essential part of the modern economy".

He said the research also indicated that in the workforce the older generations' loyalty and low absenteeism rates were worth about $27 billion to employers.

"Simply put, older Australians paid their way through their working years and now are more than paying their way in retirement," he said.

It also found older Australians added about $20.5 billion to the economy as "informal carers" for people with a disability and $1.5 billion in "grandparent care".

The report comes as the Abbott government moves to reform pensions.

Topics:  economy seniors

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